At September 30, 2012, PBI Bank’s Tier 1 leverage ratio was 5.53% and its Total risk-based capital ratio was 9.85%, which are below the minimums of 9.0% and 12.0% required by the Bank’s Consent Order with its primary regulators. At September 30, 2012, Porter Bancorp’s Tier 1 leverage ratio was 5.00%, compared with 7.56% at June 30, 2012, and 6.53% at December 31, 2011, and its Total risk-based capital ratio was 10.01% compared with 11.94% at June 30, 2012, and 11.22% at December 31, 2011.Management and the Board of Directors are evaluating appropriate strategies for increasing the company’s capital in order to meet the capital requirements of our Consent Order. A key component of that evaluation is reviewing the opportunity to sell common stock through either a public offering or private placement to new and existing shareholders. At Porter Bancorp’s 2012 annual shareholders’ meeting, shareholders approved an increase in our common shares authorized for issuance from 19 million shares to 86 million shares.
Porter Bancorp, Inc. Announces Third Quarter 2012 Results
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